Viatris signs agreements with Biocon on $815m stake sale

Group 1 - Viatris has signed definitive agreements to sell its equity stake in Biocon Biologics for $815 million, which includes $415 million in newly issued Biocon equity shares and $400 million in cash [1] - The newly issued shares will be listed on the National Stock Exchange of India and will have a six-month lock-up period [1] - The overall transaction value will be adjusted for applicable taxes [1] Group 2 - The agreements allow for an earlier end to the biosimilars non-compete restrictions, concluding at closing for markets outside the US, while remaining in effect in the US until November 2026 [2] - The deal is expected to be finalized in the first quarter of 2026, pending the fulfillment of all closing conditions [2] Group 3 - Viatris has appointed Citi as its financial advisor, with legal counsel from Cravath, Swaine & Moore and Khaitan & Co [3] - Viatris CEO Scott Smith emphasized the importance of monetizing the equity stake and regaining access to the global biosimilars market for future growth [3] - Viatris operates globally with headquarters in Pittsburgh, US, and additional centers in Hyderabad, India, and Shanghai, China [3] Group 4 - Viatris supplies medicines to a billion patients worldwide each year, offering a broad portfolio of generics and branded therapies [4] - The company supports healthcare needs through its global supply chain and scientific expertise [4] - In October 2024, Lexicon Pharmaceuticals entered into a licensing agreement with Viatris for exclusive rights to commercialize sotagliflozin outside the US and Europe [4]